1.5¢/kWh Solar Panels Might Be On The Horizon

Have you been paying attention to the global solar panel market? There are incredible data points to see and evaluate.  What's the news saying? While we’ve seen prices for solar power installations globally contract well under one U.S. dollar per watt, it was comparatively recently (later in 2016, early 2017) that those costs were seen in the United States. And with the results of tariffs on imported solar panels under Section 201, some projects might have been below that figure that won’t come to be,  but we will see.  There are many things on the horizon, but let's explore what's happening further.

GTM Research did the calculations as part of a performance by Research Manager Scott Moskowitz at GTM’s Solar Summit, Trends in Solar Technology with also System Prices, which predicts that utility-scale fixed-tilt designs could hit 70 U.S. cents per watt by 2022.  That's fairly exciting news to keep an eye on.

Are Tariffs An Issue?

Also, the Section 201 tariff is scheduled to conclude in early 2022, and that to qualify for the 22% Solar Investment Tax Credit (the last year before it goes to 10% endlessly) you must break ground in 2021 and finish the plan before the end of 2023.

GTM Research projects savings from a variety of sectors. The most significant savings develops from the solar panels – anticipated to decline from 37¢ per watt (W) today to 24¢/W by 2022, a 35% drop. Much of this price reduction could come from efficiency improvements alone. Solar energy journalists project that by 2022, the common utility scale panel efficiency might reach a 20% – a 17-25% improvement over the average 16-17% effectiveness used now.

Traditional Solar Panel Difficulties

GTM Research does warn that it will be challenging to extract costs out of different parts of the system. For instance, they revealed inverter pricing quiet from the old 10-20% a year price declines to 5-10% price slumps beginning in 2019.

However, the bifacial solar module, single-axis tracker system whose achievement gains versus regular modules installed on single-axis trackers was 13%. This improvement lines up with solar energy journalists regarding 12.5% gains earlier this year.

The effect of heightened system economics from higher efficiency, not bifacial panels is documented, and single-axis solar systems are now reaching above 30% potential in the southwestern U.S.  This exciting news for the future prospects of energy conversion.  We can find great savings and major advancements toward clean energy.  

Getting to cents per kilowatt-hour

By 2022, it might be placed further as developers monetize eventual repowering of solar farms and longer-lived solar modules. All of those parts paint one clear picture. The price of utility-scale electricity is reaching down. Research recommends broad impacts beyond the power system as a whole, with solar and wind anticipated to bring wholesale rates down 50% by the end of the 2020s.

The future is undoubtedly bright regarding the cost of solar panels.  When we look at all the projections and data presented here, we can see that it is the best time to start our journey of making our home the solar power producing system it can be.  Everyone can take part in this exciting moment of the lowest priced solar panels in the history of the world. 

Now that you know all about the cost of solar globally have a look at us here at HahaSmart.  This is where you will have a look at what we can offer you on the cost of solar panels and cost of solar installations.  We will strive to find you the best prices available.